RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of December 29, 2021 No. 2021-P-12/75-2-(NPA)

About approval of the Procedure on accounting of transaction of murabakh

According to articles 20 and 68 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Procedure on accounting of transaction of murabakh it (is applied).

2. This resolution becomes effective since January 1, 2023.

3. To the operating commercial banks working by the Islamic principles of financing including through "Islamic window":

- till March 1, 2022 to provide in National Bank of the Kyrgyz Republic the actions plan on automation of information bank system according to requirements of the Procedure for accounting of transaction of murabakh;

- till January 1, 2024 to bring the automated information bank system and accounting policies into compliance with requirements of the Procedure for accounting of transaction of murabakh;

- monthly till the 5th following reporting to provide information on course of execution of requirements of this resolution in management of banking supervision.

4. To legal management:

- publish this resolution on the official website of National Bank of the Kyrgyz Republic;

- after official publication to send this resolution to the Ministry of Justice of the Kyrgyz Republic for entering into the State register of regulatory legal acts of the Kyrgyz Republic.

5. To management of methodology of supervision and licensing of banks to bring this resolution to the attention of commercial banks, OYuL "Union of Banks of Kyrgyzstan", the relevant structural divisions, regional managements and representative office of National Bank of the Kyrgyz Republic in Batken Province.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info